Allowed

Punjab National Bank v. Reshu Devi and Ors.

DRT12 Sept 2025TA/271/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Punjab National Bank against three defendants (two borrowers and one guarantor) for recovery of Rs. 80,05,419 with interest as per RBI guidelines following the classification of the account as NPA.

What did the court decide?

Directing defendants to jointly or severally pay Rs. 80,05,419 with interest and costs within 30 days, failing which recovery to be effected through sale of mortgaged and other properties.

Punjab National Bank versus Reshu Devi and Ors. — Banking and Recovery | DRT (2025)

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T.A. No.271 of 2022

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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T.A. No. 271 of 2022

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Punjab National Bank Circle Sastra Centre East Delhi CSC Pocket E, Mayur Vihar Phase II Delhi-110091 Applicant

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Versus

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Mrs.Reshu Devi (@Mrs.Reshu Hussain Bhat) w/o Sh.Zaffar Hussain Bhat

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R/o 3rd Floor, I-7B, Lajpat Nagar II New Delhi-110024

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Also at:

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Mrs.Reshu Devi (@Mrs.Reshu Hussain Bhat) w/o Sh.Zaffar Hussain Bhat

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R/o E-32, 3rd Floorl, Lajpat Nagar II New Delhi-110024

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Sh.Zaffar Hussain Bhat s/o Sh.Mohammad Ramzan Bhat R/o 3rd Floor, I-7B, Lajpat Nagar II New Delhi-110024

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Also at:

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Sh.Zaffar Hussain Bhat s/o Sh.Mohammad Ramzan Bhat R/o E-32, 3rd Floorl, Lajpat Nagar II New Delhi-110024

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Also at:

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Sh.Zaffar Hussain Bhat s/o Sh.Mohammad Ramzan Bhat Shop No.12, Jal Vihar Road Lajpat Nagar-II, New Delhi-110024

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Also at:

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Sh.Zaffar Hussain Bhat s/o Sh.Mohammad Ramzan Bhat B-65, Lajpat Nagar-II, New Delhi-110024

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T.A. No.271 of 2022

Sh.Satish Thakur s/o Sh.A.P.Thakur R/o C-64, Lajpat Nagar-II, New Delhi-110024 Defendants

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Present: Shri Ravinder Gupta, Counsel for the applicant bank

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Date of Institution: 04.10.2021

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Date of Pronouncement: 12.09.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 04.10.2021 through Shri Surendra Singh, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendant for recovery of a sum of Rs.80,05,419/- (Rupees Eighty Lacs Five Thousand Four Hundred Nineteen only) as on 31.08.2021 along with pendentelite and future interest @7.65% per annum plus @2% penal interest from 01.09.2021 till the date of its realization and costs.

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The brief facts of the case are that on the request of the defendant no.1 and 2 being co-borrowers submitted loan application along with KYC documents, the applicant bank sanctioned Housing Loan of Rs.68,00,000/- (Rupees Sixty Eight Lacs only) on 29.05.2012 @10.75% interest per annum to be repayable in 240 EMI of Rs.69,100/- to purchasing Residential Property on 3rd Floor without terrace / roof right, of I/7B, Lajpat Nagar, II, New Delhi measuring 100 sq.yds. On the request of defendant no.1 and 2, the applicant bank sanctioned loan of Rs.12.00 lacs for construction / renovation of the property on 09.01.2013 @10.75% interest per annum. The defendant no.1 and 2 agreed to pay @2% interest for delayed in repayment of

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T.A. No.271 of 2022

installment/interest. The defendant no.3 stood as guarantor for the housing loan facility availed by defendant no.1 and 2.

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In order to avail the housing loan facility, the defendant submitted housing loan application with KYC details and executed Sanction Letter dated 29.05.2012 and 09.01.2013, Agreement for Housing Loan, Power of Attorney, Letter of Acknowledgement, Letter for Accepting Interest and Declaration dated 07.06.2012 and 09.01.2013 with the applicant bank. The defendant no.3 executed Agreement of Guarantee dated 07.06.2012 for housing loan facility availed by defendant no.1 and 2.

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That in order to secure both the loan facilities, the defendant no.1 created equitable mortgage of the property situated at 3rd Floor without terrace / roof right, of I/7B, Lajpat Nagar, II, New Delhi by depositing Original Sale Deed dated 11.06.2012 on 11.09.2012, duly registered with SR-V, New Delhi being Registration No.9732, Book No.1, Volume No.12294 and Original Sale Deed dated 06.11.2009 registered before SR-V, New Delhi being Registration No.14575, Addl. Book No.1, Volume No.9624 with the applicant bank, which was extended on 10.01.2013. The applicant bank registered the charge over property before CERSAI on 10.09.2012.

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The defendants acknowledged the debit liability by executing Balance & Security Confirmation letter dated 20.02.2015, 03.01.2018 and 23.07.2020 towards the applicant bank.

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It has been submitted by the applicant bank that after availing both the housing loan facilities, the defendants failed to maintain financial discipline and comply with the terms and

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T.A. No.271 of 2022

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conditions of loan despite several requests and reminders and defaulted in payment of monthly installments in time to the applicant bank. Ultimately, the applicant bank classified the account as NPA on 31.03.2021 in terms of RBI guidelines but defendants failed to regularize the account. The applicant bank issued recall notice vide letter dated 06.04.2021 and legal notice dated 22.09.2021 for regularization of the account but neglected by the defendants hence the applicant bank has approached this tribunal for recovery of its dues.

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Notices of this O.A. were issued to the defendants and despite proper service the defendants have chosen to absent from the proceedings. As per order dated 07.02.2025, defendants have been proceeded ex-parte as not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Surendra Singh, authorized representative of the applicant bank who has proved the documents as Power of Attorney Ex.AW-1/1, Sanction Letter Ex.AW-1/2, Agreement for Housing Loan Ex.AW-1/3 & Ex.AW1/14, Power of Attorney Ex.AW-1/4, Letters of Acknowledgement Ex.AW-1/5 & Ex.AW-1/15, Letter regarding Interest in H.Loan Ex.AW-1/6 & Ex.AW-1/16, Declaration Ex.AW-1/7 & Ex.AW-1/17, Agreement of Guarantee Ex.AW1/8, Sale Deeds Ex.AW-1/9 & Ex.AW-1/10, Letter of Depositing Title Deeds and Acknowledgement Receipt Ex.AW1/11 & Ex.AW-1/12, Cersai Report Ex.AW-1/13, Letter of Continuity Ex.AW-1/14, Balance & Security Confirmation Ex.AW-1/19, AW-1/20, AW-1/22 to AW-1/24, Letter by Defendant no.1 Ex.AW-1/21, Notices Ex.AW-1/25(Colly), Legal Notice Ex.AW-1/26(Colly), Statement of Accounts including

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T.A. No.271 of 2022

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Certificate of Accrued but Undebited Interest, Penal Interest etc. Ex.AW-1/27 to Ex.AW-1/29 and Consolidated Statement of both Housing Loans Ex.AW-1/30 & Ex.AW-1/31.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly proved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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In the light of the above discussions, the Original Application deserves to be allowed.

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ORDER

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allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.80,05,419/- (Rupees Eighty Lacs Five Thousand Four Hundred Nineteen only) as on 31.08.2021 along with pendentelite and future interest @9.65% per annum with monthly rests from 01.09.2021 till its realization with costs, failing which the aforesaid amount shall be recovered from the sale of mortgaged Property on 3rd Floor without terrace / roof right, I/7-B, Lajpat Nagar, II, New Delhi measuring 100 sq.yds. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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T.A. No.271 of 2022

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(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 10.11.2025.

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 12.09.2025

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Punjab National Bank v. Reshu Devi and Ors.

Case brief

What is this about?

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Punjab National Bank v. Reshu Devi and Ors.

Case brief

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